Combined revenues from digital advertising, home shopping, e-commerce and subscription-based OTT service grew from RM50 million to RM123 million for YTD17.
Astro recently reported its Q1 2016 results, and while its top- and bottom-line appear strong, Goh Thean Eu looks at the other aspects of its business.
Astro Malaysia Holdings Bhd may introduce new home shopping channels over the near- to medium-term, as it aims to capitalise on the country’s e-commerce boom.
Astro Malaysia Holdings Bhd claimed it is seeing good momentum for its recently-launched home shopping and e-commerce business, Astro GS Shop Sdn Bhd.
Astro said its revenue grew by 9% year-on-year to RM5.2 billion (US$1.4 billion) in its 2015 financial year (FY15) ended Jan 31, 2015.
Astro’s plunge into e-commerce benefits other e-commerce players in Malaysia and consumers as well, says Karamjit Singh, whose attention was also caught by the launch of a venture debt fund in Singapore and the 2014 financial results of Fusionex International, whose CEO Ivan Teh is a DNA Digerati50.
Astro has announced a joint venture with South Korean multimedia retailer GS Home Shopping which has launched Go Shop, a new 24-hour shopping service available on Astro TV (Channel 118), Astro On The Go, as well as web and mobile platforms.